Italy's Generali shows interest in AIA: report

Italian insurer Generali could be interested in "pieces" of AIG's Asian unit AIA after British insurer Prudential abandoned its ambitious takeover plan, daily Corriere della Sera reported on Thursday."It is entirely premature to be talking about it," a spokesperson for the company told AFP.The newspaper, citing what it described as circles close to Generali, reported that Generali would be interested in purchasing AIA assets on the condition that American International Group cut the price and decide not to list the company.

Related

Italian insurer Generali could be interested in "pieces" of AIG's Asian unit AIA after British insurer Prudential abandoned its ambitious takeover plan, daily Corriere della Sera reported on Thursday.The newspaper, citing what it described as circles close to Generali, reported that Generali would be interested in purchasing AIA assets on the condition that American International Group cut the price and decide not to list the companyGenerali had expressed interest previously in some of AIA's assets in the Philippines.

US insurer AIG is expected to announce Monday it is replacing the head of its Asian unit AIA, just months before its planned Hong Kong stock market listing, the Financial Times reported.Mark Tucker, a former head of British insurer Prudential, is to take over from Mark Wilson, who has been chief executive of AIA since 2006, said the paper, citing people close to the situation.It comes after a revolt from Prudential shareholders led to the collapse of the insurer's 35.5-billion-dollar (27.5-billion-euro) monster takeover bid for AIA, which Wilson had opposed.

At least four consortiums made up of private Chinese investors have approached US insurance giant AIG to acquire its Asian unit AIA, a Hong Kong newspaper reported Tuesday.The investors approached American International Group and the US Treasury Department shortly after Britain's Prudential aborted a plan to take over AIA in June when its shareholders balked at the 35.5 billion US dollar cost, the South China Morning Post reported.It sid all the mainland investors involved indicated they had strong backing of Chinese insurers or banks.

American International Assurance (AIA), the Asian unit of US insurance giant AIG, is trawling for investors so it can split from its troubled parent as soon as possible, a report said Tuesday.Mark Tucker, the former head of British insurer Prudential who was named Monday as AIA's new chief executive, has sought assurances that AIA can "pursue independence immediately," the Financial Times reported, citing unnamed sources.

Prudential chairman Harvey McGrath said in an interview Friday that no heads would roll at the British insurer after it abandoned its hugely ambitious takeover of AIG's Asian unit AIA."The board is completely behind the management team. No one has offered to resign and no one has been asked to resign," Harvey told the Financial Times.The aborted takeover was masterminded by Prudential chief executive Tidjane Thiam and commentators said his career had been badly tarnished by the deal.

Italy's top daily, Il Corriere della Sera, did not come out on Friday and will not be published on Saturday due to a strike by journalists against the way in which multimedia practices are being introduced."Il Corriere will not be available in kiosks and the website corriere.it will not be updated," the editorial committee said in a statement.The editor, Ferruccio de Bortoli, said in an open letter that "a restricted and corporatist vision of our profession is no longer acceptable."He also called for negotiations with the editorial committee.

LONDON (Reuters) - Shareholders holding up to 15 percent of British insurer Prudential Plc's shares plan to write to the chairman saying they oppose the company's $35.5 billion takeover of AIG's Asian arm, the Times reported in its Thursday edition.